PETALING JAYA: Mah Sing Group Bhd has extended its negotiation for the proposed acquisition of 85.43 acres in the Sultan Salahuddin Abdul Aziz Shah Golf Course in Shah Alam, a deal that was first announced in 2014.

This is the third time the proposed acquisition has been delayed, as the parties have not been able to finalise the terms and conditions of the sale and purchase (S&P) transaction.

The acquisition, by Mah Sing’s unit Enchanting View Development Sdn Bhd, was valued at RM327.5mil or RM88 per sq ft when it was first announced in 2014.

In a filing with Bursa Malaysia, the group said it had proposed for the discussions to be extended for six more months.

“We wish to announce that despite the best endeavours and efforts of Enchanting View to discuss and renegotiate the terms and conditions of the S&P transaction pursuant to clause 2.6 of the agreement, an amicable settlement or alternative arrangement has yet to be reached between the parties to date,” it said.

The group said Enchanting View had proposed an extension from Sept 15, 2016, for the parties to continue with the current discussion to renegotiate the terms of the S&P agreement.

As of the date of the announcement, it said the vendor had yet to agree on the proposed extension. “Material developments from the discussion and renegotiations will be announced in due course,” it said.

The group had earlier announced similar six-month extension periods in September 2015 and March 2016.

The group had said its preliminary plans for the land involved the development of an exclusive enclave of gated guarded landed and high-rise residences, including super link, linked semi-detached, semi-detached, bungalows and serviced apartments with a potential gross development value of about RM2.5bil.